Astera Labs (NASDAQ:ALAB) Releases Q4 Earnings Guidance

Astera Labs (NASDAQ:ALAB) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.25-$0.26 for the period, compared to the consensus earnings per share estimate of $0.18. The company issued revenue guidance of $126-$130 million, compared to the consensus revenue estimate of $107.94 million. Astera Labs also updated its Q4 2024 guidance to 0.250-0.260 EPS.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Price Performance

NASDAQ ALAB traded down $1.21 during trading hours on Thursday, hitting $96.96. The company had a trading volume of 3,680,837 shares, compared to its average volume of 2,970,872. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $99.84. The business has a fifty day simple moving average of $57.00 and a 200-day simple moving average of $58.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. On average, research analysts expect that Astera Labs will post -0.54 EPS for the current year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 564,458 shares of company stock valued at $31,970,841.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.